although i exited my position based on sp risk, i fail to see...

although i exited my position based on sp risk, i fail to see the fundamental risk at current prices which y3 alludes too?

at raw basics they maximize the value of their current contracts via purchases on the spot market (they have already done this once), sell off their plant for scrap metal, claim any r&d tax receipts & return cash to shareholders.

i dare say all of this alone is worth more than $40 odd million & is a worst case fundamental value.

if the low ph works & the uranium price significantly improves it is likely worth north of $1 billion which makes it a 20+ bagger.

fundamentals are stacked in favour of holders here imho but the in the short term sp's can do anything.